Mr. Suradej Kiattanakorn Chief Executive Officer Kasikorn Asset Management Co., Ltd. revealed that the trendThai stock marketIn 2023, the year-end index target should rise to 1,800 points. The main factor supporting the country is the economic recovery from the opening of the country to foreign tourists and the gradual recovery of normal economic activities.
The Tourism Authority of Thailand (TAT) aims to attract 20 million foreign tourists to Thailand by 2023, which will generate more than 2.38 trillion baht in revenue for the country.
After the year 2022, there areforeign touristsMore than 10 million people and an average of 70,000 additional tourists per day enter, and at least 11 million people are expected to close by the end of 2022.
and China gradually opening up the country to support Thailand’s GDP growth. and an increase in income from foreign tourists, which accounted for more than 10% of GDP, or 61% of total income before COVID.
Includedbaht trendIn 2023, it should be more stable. by inflation which has already passed its peak and the current account balance is back in surplus. And if the dollar starts to weaken it will support foreign capital flows (flow of funds) to invest more in the Thai stock market
Suradej said that in 2023, there are other factors that need to be continuously monitored, including the slowdown in the global economy. direction of inflation direction of central bank monetary policy geopolitical risk China’s progress in full opening up including Thai election
As far as factoring Thailand elections to take place in 2023, it is seen that every election will generate a lot of money into the economy. Including the new economic stimulus policies that will be triggered by the new government that comes in. This will be a strong boost for the Thai economy next year to recover well.
Meanwhileeconomic stimulus measuresyear 2023 by the government which was released continuously By the meeting of the Cabinet (Cabinet) which implemented a project to stimulate the economy in order to continuously give a New Year’s gift in 2023 to people
For example, the Shop Dee Mee Night 2023 measure from January 1 to February 15, 2023 with an amount of up to 40,000 baht, land and construction tax reduction measures in 2023 with a rate of 15%, reduction of registration fees of residential patents, measures to help people borrow money to encourage the public and investors have the potential to create good financial health It will help stimulate Thailand’s economy in 2023 to be even more vibrant than ever.
Furthermore, the inflation situation has passed the critical point. Over the past year, inflation has continued to rise. It is an important factor affecting the Thai economy. But inflation is likely past its peak. This helps reduce pressure from the MPC to raise interest rates and not have to accelerate interest rates quickly and aggressively like other countries.
